This is what everyone would like to know. The truth is nobody can accurately predict the return of the real estate market. I would like to use a sports analogy, sorry but it may apply. Think of a sports team who is not playing well, day after day, things do not go as planned, what do they do? Go back to the basics.
Think back, and remember a time when we saved before we bought. We would work hard and save 20% down on a home and then buy our Dream Home. Perhaps it is time to get back to basics. Look at you expenses each month. I mean a hard look. What can you honestly do without? Pennies nickels and dimes soon turn into $5, $10 and $20 and the next thing you know you have some money saved up. Start placing coins in a piggy bank and then placing that money in a saving account, preferably one that is not attached to your checking account.
Placing 20% down on a home may be the only way one could obtain a loan, but more importantly you are never upside down in your mortgage. Then when the market surges ahead again you will be in a great position to capitalize on your investment.
Somehow, this buying with no money down has devalued the dollar and the American Dream.
Americans need to get back to the basics of solid buying and selling principles. This strengthens home values, which encourages investment in the housing market. Only hard work and saving will help each American place value in the dollar. When buyers and sellers begin to put value in owning the Dream Home, that is when I think we will see values begin to appreciate again.